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Taylor Roth is a CPA firm that believes nonprofit
organizations deserve specialists.We consider it our responsibility to provide financial accounting services that add value so that your nonprofit can do its best work.
We are not a conventional CPA firm. We provide services exclusively for nonprofit organizations. We are passionate about the nonprofit sector, and that shines through in the work that we do and how we communicate.
Our services include the following:
The purpose of a financial audit is to provide an objective independent examination of the nonprofit’s financial statements. Auditors offer an opinion about whether the financial statements of the nonprofit organization are stated in accordance with generally accepted accounting principles (GAAP). An audit opinion provides reasonable assurance, but not absolute assurance.
A compliance audit is when an auditor is asked to form an opinion on whether or not an organization complied with the requirements of an agreement. Nonprofits are frequently subject to a compliance audit if they receive significant funding from local, state or federal governmental sources. The compliance audit is done concurrently with the financial statement audit.
A “review” is a financial statement prepared by a CPA that provides “limited assurance” that no material modifications to the financial statements are necessary for the financial statements to be in conformity with generally accepted accounting principles (GAAP). Basically, the review opinion says we looked at the financial statements and we didn’t see anything that looked wrong.
Most nonprofits are required to file an informational return with the IRS each year. The return is filed on a Form 990. The Form 990 gives the IRS information on how the nonprofit’s activities and financial situation.
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